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Sony Buys Toshiba’s Image Sensor Business

Sony has announced that it has acquired Toshiba’s image sensor business in a deal which is worth 19 billion yen, or about $155 million at the current exchange rate.

Sony will take over Toshiba’s fabrication plants in Oita, Japan as well as their equipment and employees, which will be run by Sony’s new image sensor business that was recently spun off from their main business.

Based on the memorandum of understanding entered into between Sony Corporation (“Sony”) and Toshiba Corporation (“Toshiba”) on October 28, 2015, the parties today announced that they have signed definitive agreements to transfer to Sony and to Sony Semiconductor Corporation (“SCK”), a wholly-owned subsidiary of Sony, certain Toshiba-owned semiconductor fabrication facilities, equipment and related assets in its Oita Operations facility, as well as other related equipment and assets owned by Toshiba (the “Transfer”).

Under the agreements, Toshiba will transfer semiconductor fabrication facilities, equipment and related assets of Toshiba’s 300mm wafer production line, mainly located at its Oita Operations facility. The purchase price of the Transfer is 19 billion yen. Sony and Toshiba aim to complete the Transfer within the fiscal year ending March 31, 2016, subject to any required regulatory approvals.

You can find out more details about the deal between Sony an Toshiba over at Sony’s website at the link below.